The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: Prepube on July 31, 2014, 06:59:13 AM
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Anyone have some suggestions as to the best and least expensive way to sell real estate? It's a chunk of vacant land (about five acres) up in the mountains of colorado. Several real estate agents have said no to listing it for me because they either don't want to go that far, or because they don't deal in vacant land. Seems like I should be able to do this without them anyway. What do I need to do? What steps do I need to take to get around the agents and still get the property in MLS? Closings have always confused me... Who do I minimally need to involve? I will require a cash deal, so I guess that should simplify things. Only 30k. Anyone have any guidance for me?
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There are discount brokerages that will get it onto the mls for a couple hundred dollars. also there is forsalebyowner.com. zillow. craigslist.
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"Several real estate agents have said no to listing it for me because they either don't want to go that far, or because they don't deal in vacant land".
A broker does not really need to visit vacant land as often as they would, say a house. They just need a survey, tax id#, and a few other key pieces of information and can send prospective buyers there unaccompanied, then right up offers.
If you want to cut out the middle man, you could post a sign there with your phone number and fax a survey to interested buyers. Negotiate over the phone, maybe type up a letter of intent, then turn it over to your attorney (probably a local near the land) and have him/her workout the details with the buyer's attorney. You may or may not have to show up for the closing at the title company.